Shared Appreciation Mortgages – a new scam to me

I had never heard of these until reading a Sunday newspaper I usually don’t get, The Mail on Sunday. Their financial section had a piece on ’shared appreciation morgages’ that were marketed by the banks, barclays and HBoS in the late ninties.

They are horrific in their terms, allowing the banks to keep 75% of any increase in the value of a borrowers property. Legalised burglary at its finest.

They were mostly promoted to the elderly to give them an income from equity in their homes, and in many cases now, widows ands widowers are facing losing their homes as the banks move to repossess property after the death of their spouse.

See the full story and details of how one pensioner, Mr. Roy Muckle has been badly traumatised by his run in with HBoS.

As you know by know, I have little regard for the banking industry, who I believe considers all their customers as cows to be milked for their maximum profits regardless of the hardships endured.

Step out of the banking system, wise up to the facts, opt in for more information at www.wealthfreedomfighters.com